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Title: IS GOLD MONEY?
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Published: Jul 14, 2011
Author: Ron Paul
Post Date: 2011-07-14 13:07:59 by socalv8
Keywords: Paul, Ben, Good Question
Views: 74150
Comments: 131
Big Ben's hesitation was telling. What say you?
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#21. To: Capitalist Eric (#13)
My guess is that Goobershit has never held a job either...
Check it out on wike... it's good for a laugh. It should be called the 1/2 cent party, cause that's all what you read from them is worth...... It seems to me that I read a post on here from someone who admitted they did that sort of thing, but don't remember who it was....
When asked by a Liberal what I bought my Granddaughter for her 1st birthday I replied, "MORE AMMUNITION"!!!!
Which civilization started this nonsense and why?
So was Bernanke wrong or lying? His pregnant pause screams lie, I'd guess.
We? Stealing from Jews causes a bubble?
Who?
?
Therefore, to avoid this they'll need to see the price drop by half in the near future?
You are a good poster, btw. Thanks.
Toothless inbred hillbillies know more about economics than you guys. The gold standard failed. Move out of the last century. The gold standard of the 1920s prolonged the Great Depression. The gold standard limited the flexibility of central banks' monetary policy by limiting their ability to expand the money supply, and thus their ability to lower interest rates. In the US, the Federal Reserve was required by law to have 40% gold backing of its Federal Reserve demand notes, and thus, could not expand the money supply beyond what was allowed by the gold reserves held in their vaults. That is different than investing in gold. But that is no more or less exotic than investing in orange or wheat futures. It's a commodity like any other. You will probably make more money investing in black gold aka oil. But the "gold delusion" is part of the mental mind fuck you right wingers operate under because it is linked to this mythology of a lost golden age back when America "worked", when blacks were Jim Crow'ed and women were subservient to men and other such delusions. Your obsession with the gold standard has more to do with your mythological world view (conservatives/right wingers in America are increasingly living in a fantasy world were empirical evidence is ignored) than sound economic policy.
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
What's wrong with you?
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
As in the human race.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
That's pretty darned accurate.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
Yup. But with Helicopter Ben creating digital fiat money like crazy, there's absolutely NO chance of that happening. I read somewhere, that if you divide all the fiat money around the world by the amount of gold in the world, it works out to some crazy number like $12000/ounce. With there being 7X the amount of gold ETFs as there is physical gold in all existence, it would seem that gold will increase potentially 7X it's current price... which works out to $1500x7=$10,500/ounce. If it only gets halfway there, it's still $5000/ounce. My silver investments should do better. Silver links to gold at ~30:1-40:1. If I call it 35:1, with current gold at ~$1500, gold should be at $42. When gold goes ballistic (maybe $5k/ounce), that means silver would be ~$142. I can live with that. :)
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow Orwells' mottos: War is peace. Freedom is slavery. Ignorance is strength. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King once observed, "The beauty of religion mania is that it has the power to explain everything... [and] …logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... Their God... is the STATE.
No, gold is not money but a commodity. Economics 101
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
Economics 101 Gold evolved over thousands of years of societal evolution on almost every part of the planet as the preferred form of money. It did so because it was durable, easily divisible, and scarce. In the 20th century, arrogant people with their all encompassing view of the state destroyed what thousands of years of societal evolution created. Economic History 101.
That was more the result of colonialism.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
Free will and ambition, the lack of which creats socialists, hippies and Democrats.
Fair enough, but I didn't ask you. I asked someone far less credible than you.
Any chance of gold and silver going in different directions?
So was silver and iron bars and wampum and on some islands in the Pacific islands - large carved boulders. So what?
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
I support your ambition to get ripped off by gold brokers. Go for it.
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
I asked you what you meant by "tulips". Tulip mania or tulipomania (Dutch names include: tulpenmanie, tulpomanie, tulpenwoede, tulpengekte and bollengekte) was a period in the Dutch Golden Age during which contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed.[2] At the peak of tulip mania, in February 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman. It is generally considered the first recorded speculative bubble... Wikipedia
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
Not your choice and I don't invest in gold, Stewie.
Interesting and worth looking into, thanks.
There is a chance... but I believe it's quite small. They usually trend in the same direction- silver being the "poor man's gold," as it were. While I could buy *some* gold, I'm certainly not rich... LOL. Here's why I buy silver: the price has been artificially surpressed by major banks- chief among them being Chase. This has been done by shorting silver futures, in large (and public) bets. Thus, they give the signal to the market that the price will drop, and the market (being the sheeple they are) take the bait; the price drops signficantly, Chase sells and makes a fat profit. The price starts to trend back up, and the banks repeat... But this time (the last few months), a lot of the banks were playing the same game, and the price continued to trend up... So the banks got the COMEX to increase the reserve requirements for silver ETFs, forcing the price down so they could cash out... Those banks that haven't- as the price will continue to trend up over time- will be in seriously bad straights, as their exposure will become problematic. An ugly aspect that few ETF managers will talk about, is that the lack of silver and gold is at a critical point. So they're trying to buy back the ETFs with paper money, since they're exposed on physical commodities. As well, they're buying gold wherever they can find it... Just look on Craigslist, or take a walk through your local shopping mall... You'll see signs *everywhere,* saying "we buy gold and silver..." I have no doubt, if/when this scandal hits the main-stream news, the prices will go waaaaaaaaaay up. IMHO.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow Orwells' mottos: War is peace. Freedom is slavery. Ignorance is strength. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King once observed, "The beauty of religion mania is that it has the power to explain everything... [and] …logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... Their God... is the STATE.
Economics 101 Clearly, you failed your econ class.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow Orwells' mottos: War is peace. Freedom is slavery. Ignorance is strength. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King once observed, "The beauty of religion mania is that it has the power to explain everything... [and] …logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... Their God... is the STATE.
Think 16 to one, the tried and true ratio. Gold is way out of whack right now, a bubble that is ready to burst so the sharks can reap their profits just like they did in late 2007.
Clearly, you failed your econ class. Yet it's actually sold as a commodity. Go figure. And if I buy a 20 dollar gold piece for 1500+, I can only legally tender it for 20 dollars.
All but Silver fail one or more of the tests of what makes really good money: It's A.) Durable, B.) Easily Divisible, C.) Relatively Scarce, D.) Portable. This is why wampum, iron bars, and large carved boulders did not evolve as money in most parts of the world. Gold did. So did Silver.
LOL!! That is the stupidest thing you have said so far. Gold has been money for 1000s of years. Appears you have been sucked into the delusional fiat money scam that has transformed a lot of stupid fools into poor stupid fools. No one with a modicum of intellect and their wits about them could deny the historical facts of the matter.
LMAO. You're an idiot. Your statement as to the gold-silver ratio, as usual, is based on bad information...... And HERE'S WHY... As to your statement that gold is "a bubble that is ready to burst," then I suggest you put your money where your FAT mouth is at, and short some gold ETFs. Your statements- based on nothing but your delusions, fed by MSM propagandists, make me laugh.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow Orwells' mottos: War is peace. Freedom is slavery. Ignorance is strength. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King once observed, "The beauty of religion mania is that it has the power to explain everything... [and] …logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... Their God... is the STATE.
So what? They stopped using it just like they stopped using human sacrifice to make it rain.
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
LOL! Gold and silver are still money to rational people. You go ahead and stack your paper; you can always use it to wipe.
Money is not made out of actual paper but it is clear you h ave no idea how money works.
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
Clearly, I know much better than you that money must be a good "store of value". You go ahead and stack your paper; you can always use it to wipe.
You're an idiot. Your statement as to the gold-silver ratio, as usual, is based on bad information...... And HERE'S WHY... As to your statement that gold is "a bubble that is ready to burst," then I suggest you put your money where your FAT mouth is at, and short some gold ETFs. Your statements- based on nothing but your delusions, fed by MSM propagandists, make me laugh. I don't play markets where others make undecipherable rules not in my favor. But the big question here is: If I'm wrong, why would YOU care?
You go ahead and stack your paper; you can always use it to wipe. Lugging around all that gold must be tiring.
It's what makes him cranky.
Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.
It's probably all in his teeth.
Another effect of mercury poisoning, besides the goofy reasoning. He needs to check out his local perma melt. Alaska has some of the most toxic water in the world.
Comments (62 - 131) not displayed.
Top • Page Up • Full Thread • Page Down • Bottom/LatestIt's a safe bet to say he's never owned a gold coin...
Any fourth grade history student knows socialism has failed in every country, at every time in history -- Vladimir Putin
#22. To: Capitalist Eric (#20)
He's an active member of the 50 Cent Party.
#23. To: jwpegler (#2)
The only reason that they are accepted as a medium of exchange is because the government has decreed them to be so.
#24. To: Capitalist Eric (#3)
Gold is the ultimate form of money.
#25. To: Godwinson (#4)
We have had gold and silver bubbles before.
#26. To: mininggold (#7)
it took only one man to keep the price of gold down for 15 years.
#27. To: lucysmom (#10)
Tulips anyone?
#28. To: Capitalist Eric (#16)
When those investors finally get around to trying to take delivery, the ensuing scandal will rock the financial world, and cause the prices of gold and silver to catapult (easily) five times current prices.
#29. To: jwpegler (#19)
#30. To: jwpegler, Capitalist Eric, CZ82, lucysmom, mininggold, eskimo (#21)
#31. To: socalv8 (#25)
Stealing from Jews causes a bubble?
#32. To: socalv8 (#25)
We?
#33. To: Godwinson (#30)
...the mental mind fuck you right wingers operate under because it is linked to this mythology of a lost golden age back when America "worked", when blacks were Jim Crow'ed and women were subservient to men and other such delusions.
#34. To: socalv8 (#28)
Therefore, to avoid this they'll need to see the price drop by half in the near future?
#35. To: Capitalist Eric (#34)
IS GOLD MONEY?
#36. To: Godwinson (#35)
(Edited)
No, gold is not money but a commodity.
Any fourth grade history student knows socialism has failed in every country, at every time in history -- Vladimir Putin
#37. To: jwpegler (#36)
Gold evolved over thousands of years of societal evolution on almost every part of the planet as the preferred form of money. It did so because it was durable, easily divisible, and scarce.
#38. To: Godwinson (#31)
What's wrong with you?
#39. To: lucysmom (#32)
As in the human race.
I asked you what you meant by "tulips".
#40. To: Capitalist Eric (#34)
#41. To: jwpegler (#36)
Gold evolved over thousands of years of societal evolution on almost every part of the planet as the preferred form of money. It did so because it was durable, easily divisible, and scarce.
#42. To: socalv8 (#38)
Free will and ambition,
#43. To: socalv8 (#39)
#44. To: Godwinson (#42)
I support your ambition to get ripped off by gold brokers. Go for it.
#45. To: lucysmom (#43)
#46. To: socalv8 (#40)
Any chance of gold and silver going in different directions?
#47. To: Godwinson (#35)
No, gold is not money but a commodity.
#48. To: socalv8 (#40)
Any chance of gold and silver going in different directions?
#49. To: Capitalist Eric (#47)
(Edited)
No, gold is not money but a commodity. Economics 101
#50. To: Godwinson (#41)
So was silver and iron bars and wampum and on some islands in the Pacific islands - large carved boulders.
Any fourth grade history student knows socialism has failed in every country, at every time in history -- Vladimir Putin
#51. To: Godwinson (#30)
The gold standard failed.
#52. To: mininggold, socalv8 (#48)
socalv8: Any chance of gold and silver going in different directions?
ming: Think 16 to one, the tried and true ratio. Gold is way out of whack right now, a bubble that is ready to burst so the sharks can reap their profits just like they did in late 2007.
#53. To: eskimo (#51)
Gold has been money for 1000s of years.
#54. To: Godwinson (#53)
#55. To: eskimo (#54)
You go ahead and stack your paper; you can always use it to wipe.
#56. To: Godwinson (#55)
#57. To: Capitalist Eric (#52)
LMAO.
#58. To: eskimo (#56)
Clearly, I know much better than you that money must be a good "store of value".
#59. To: mininggold (#58)
Lugging around all that gold must be tiring.
#60. To: mininggold (#58)
Lugging around all that gold must be tiring.
#61. To: Skip Intro (#60)
(Edited)
It's probably all in his teeth.
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